Obama Policies Guarantee A Jobless Recovery

Discussion in 'Politics' started by pspr, Jun 14, 2013.

  1. pspr


    Who knew? :D

    Economy: The recession ended four years ago. So how's that Obama recovery going? Still rather poorly, if jobs are the standard by which it is measured.

    The failure of President Obama's policies are made clear by the Economic Policy Institute, a left-leaning group that wanted to point out that "the main problem in the labor market is a broad-based lack of demand for workers."

    We won't address EPI's mistaken conclusion, but we will say the numbers it supports it with are damning.

    Using Bureau of Labor data, EPI separated jobs into 12 industry sectors and compared the number of job openings (a few) with the number of unemployed workers in each industry (a lot).

    The number of job openings as a share of the number of unemployed lags painfully in construction and manufacturing, and in the wholesale and retail trades.

    There are also far fewer job openings than unemployed workers in the transportation and utilities, and leisure and hospitality industries. Only in professional and business services, education and health services are the number of job openings even close to half the number of unemployed.

    Overall, according to EPI, the job seekers-to-job openings ratio was 3.1:1 in April. While that's down from the peak of 6.7:1 in July 2009, it's still about twice what it was in the middle of 2007, just before the recession hit.

    With the recession having been over since June 2009, the Obama administration has had plenty of time to restore the country's employment health. We should have been booming by now.

    But the jobs haven't materialized. In the previous nine recessions before this last one, it took an average of just 24 months to regain all the jobs lost. However, it will take about 80 months — almost seven years — for the country to regain all the jobs lost in the last recession if we continue at Obama's crawling job-creation pace.

    In short, don't blame this jobless recovery on bad luck. Blame White House policies.

    Start with the stimulus, which failed to stir job creation and frightened would-be employers, in large part due to uncertainty — such as, how high would taxes go, and who was going to pay back the increased debt?

    Stimulus spending also crowded out private investment, the Congressional Budget Office said in 2011.

    ObamaCare has been another obstacle to employment. Again, uncertainty is a factor. Employers didn't want to hire when they didn't know what the law's impact would be. Now they know, but it hasn't brought a wave of hiring. If anything, it's held it back.

    Other economic hurdles erected by this administration include its regulatory zeal, "fairness" rhetoric that threatens higher taxes, continued demands for bigger government and a lack of incentives that would promote economic growth.

    Voters chose poorly in 2008 and 2012, and today many are out of work because of it.

  2. Lucrum


    Odumbo and company don't want too many jobs created. Tax paying productive citizens tend to vote Republican.
  3. "Obama Policies Guarantee A Jobless Recovery"
    "Mission Accomplished" Mr prezident
  4. pspr


    <img src=http://www.investors.com/image/RAMFNLclr-061713-father-IBD.jpg.cms width=400 height=290>